The costs of the new Pendolino carriages on the West Coast Main Line comprises two elements: the first being the purchase of the carriages, while the second, and more dominant cost, being that of maintenance until 2022. The cost of the carriages in euros has been assessed at a less favourable rate than the current exchange rate. This means a worsening case scenario has been tested and the business case remains positive. All maintenance costs until 2022 will be incurred in the UK and are not subject to any exchange risk.